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作者：Park, Sungsik; Shin, Woochoel; Xie, Jinhong
作者单位：University of South Carolina System; University of South Carolina Columbia; State University System of Florida; University of Florida
摘要：The well-documented rating inflation of incentivized reviews (IRs) can mislead consumers into choosing a product that they would otherwise not buy. To protect consumers from this undesirable influence, the U.S. Federal Trade Commission recommends that reviewers conspicuously disclose any material connection they may have with sellers. In theory, such disclosures safeguard consumers by motivating reviewers to be truthful and inducing consumers to discount inflated IR ratings. Our research finds...
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作者：Simchi-Levi, David; Xu, Yunzong
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Microsoft; University of Illinois System; University of Illinois Urbana-Champaign
摘要：We consider the classic stochastic multiarmed bandit problem with a constraint that limits the total cost incurred by switching between actions to be no larger than a given switching budget. For this problem, we prove matching upper and lower bounds on the optimal (i.e., minimax) regret and provide efficient rate-optimal algorithms. Surprisingly, the optimal regret of this problem exhibits a nonconventional growth rate in terms of the time horizon and the number of arms. Consequently, we disco...
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作者：Du, Wenxin; Gadgil, Salil; Gordy, Michael B.; Vega, Clara
作者单位：Columbia University; United States Department of the Treasury; Office of Financial Research; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：We investigate how market participants price and manage counterparty credit risk using confidential trade repository data on single-name credit default swap (CDS) transactions. We find that counterparty risk has a modest impact on the pricing of CDS contracts but a large impact on the choice of counterparties. For contracts ineligible for central clearing, we show that market participants are significantly less likely to trade with counterparties whose credit risk is highly correlated with the...
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作者：Turcic, Danko; Markou, Panos; Kouvelis, Panos; Corsten, Daniel
作者单位：University of California System; University of California Riverside; University of Virginia; Washington University (WUSTL); IE University
摘要：Several features of automotive procurement distinguish it from the prototypical supply chain in the academic literature: pass-through pricing that reimburses suppliers for raw material costs, market frictions that prohibit cost transparency and imbue suppliers with pricing power, and contractual commitments that span multiple production periods. In this context, we formalize a procurement model by considering an automaker that buys components from an upstream supplier to assemble cars over sev...
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作者：Proudfoot, Devon; Berry, Zachariah; Chang, Edward H.; Kay, Min B.
作者单位：Cornell University; Cornell University; Harvard University
摘要：Despite mixed evidence for the relationship between demographic diversity and creativity, we propose that observers hold a lay belief that demographic diversity increases creativity and apply this lay belief in judgments about teams and their creative work. Across eight preregistered studies (n � 5,530), we find that observers judge teams diverse in terms of race and gender to be more creative than teams homogeneous in terms of race and gender, including in incentive-compatible predictions ma...
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作者：Marinoni, Astrid
作者单位：University System of Georgia; Georgia Institute of Technology
摘要：Immigration has proven to be a major force driving entrepreneurial dynamics. In this paper I investigate how the geographical distribution of immigrants within a given country, and in particular the presence of enclaves, affects the relationship between immigration and entrepreneurship. I examine the impact of Polish immigration to Great Britain following the unprecedented migration wave caused by the European Union enlargement in 2004. I address omitted variable concerns by using information ...
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作者：Filippas, Apostolos; Jagabathula, Srikanth; Sundararajan, Arun
作者单位：Fordham University; New York University
摘要：We report experimental and quasi-experimental evidence from a sharing economy marketplace that transitioned from decentralized to centralized pricing. Centralized pricing increased the utilization of providers' assets, resulting in higher revenues but also higher transaction costs. Providers who were barred from accessing the price system made nonprice adjustments, including reducing the availability of their assets, canceling booked transactions, and exiting the market. Providers who retained...
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作者：Garcia, Daniel; Janssen, Maarten C. W.; Shopova, Radostina
作者单位：University of Vienna; Leibniz Association; Ifo Institut; Centre for Economic Policy Research - UK
摘要：In markets, such as those for airline tickets and hotel accommodations, firms sell time-dated products and have private information about unsold capacities. We show that competition under private information may explain observed phenomena, such as increased price dispersion and higher expected prices toward the deadline. We also show that private information severely limits the market power of firms and that information exchange about capacity increases firms' profits. Finally, we inquire into...
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作者：Chen, Ningyuan; Cire, Andre A.; Hu, Ming; Lagzi, Saman
作者单位：University of Toronto; University of Toronto; University Toronto Scarborough; University of North Carolina; University of North Carolina Chapel Hill
摘要：We study the problem when a firm sets prices for products based on the transaction data, that is, which product past customers chose from an assortment and what were the historical prices that they observed. Our approach does not impose a model on the distribution of the customers' valuations and only assumes, instead, that purchase choices satisfy incentive-compatible constraints. The uncertainty set of potential valuations of each past customer can then be encoded as a polyhedral set, and ou...
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作者：Markou, Panos; Kavadias, Stylianos; Oraiopoulos, Nektarios
作者单位：University of Virginia; University of Cambridge
摘要：Project selection decisions are complex because they must balance not only financial returns, project risk, and fit with strategy, but also competitive circumstances. A rival's project development efforts provide two pieces of information: a market rivalry signal, indicating potentially heightened competition in a market, and a technological signal, indicating a possible solution to a problem in that market. We hypothesize that these signals affect a firm's likelihood of project selection in o...
